Cover for MIT Energy Iniative report developed with IIT-Comillas. This report recommends proactive regulatory, policy, and market reforms that can help guide the evolution of electric power systems in the US, Europe, and other parts of the world. Distributed energy resources like wind, solar, and energy storage should be integrated with centralized resources, which can be achieved by creating a level playing field in terms of pricing and regulated charges, and removal of inefficient barriers that impede competition. (credit: MIT Energy Initiative / Opus Design)